Kia.......First Time buyers program

Has anyone had any expirence with the first time buyers program? I had the local dealer call and say that they could get me approved using that, I am just wanting all the info I can get before I go and talk to them in person.

Thanks

Starting Score:377EQ/350EX/400TU As of 11/2011Current Score:620EQ/614EX/612TU As of 01/2013Goal Score:700+ across the boards

- First automotive secured loan or credit transaction. - Minimum six months on current job or qualified co-buyer.- Qualified applicants are eligible for standard rates.- Up to 100% advance.- Up to 72 months maximum term.- Minimum of $1,000 total down payment required (Total down payment may include rebate cash).- Excludes credit tiers 7 & 8 for terms greater than 60 mos. Credit Requirements- No adverse credit history. No bankruptcies, foreclosures, repossessions, collection accounts, charge-offs, tax liens, judgments, or any other delinquent credit. This is what has me puzzled I have 2 collections one is 5yrs old and the other is 6 yrs old and a 5.5 yrs old charge off, so I didn't think I would qualify for this but he said he could get me approved- Verifiable (paystub, W-2, etc.) monthly income sufficient to cover vehicle payment, ordinary living expenses, and all currently outstanding debt, if any.- Payment to applicant?s gross income from primary job cannot exceed 15%.- Total monthly debt to monthly income ratio of 50% or less. Total monthly debt includes, if applicable: monthly vehicle payment, monthly rent or mortgage payments, other monthly payment obligations (installment loans, revolving loans, alimony or support payment, etc).my DTI is 7% so good there - Subject to additional KMF credit guidelines. Eligible Vehicles New and untitled 2011 and 2012 Kia Forte, Optima, Rio & Soul vehicles, including demonstrators and Service Loaner vehicles with less than 6,000 miles.

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